Hello everyone welcome to another homework in another week which is week 11 and this homework given by our crypto professor @yousafharoonkhan who lectured about Decentralized and Centralized Exchanges,How to use uniswap,best Cryptocurrency Exchanges of 2021.

Homework Questions
Question 1

Write the definition of Decentralized and Centralized Exchange in your own words.(definition should cover exchanges ,not system) only explain in your own words, after understand the exchanges.

Decentralized Exchange
This is the type of exchange which transactions like buy/sell and swap are completed without the involvement of a third party or third man in the transactions rather users transact independently.

Centralized Exchange
This is the opposite of decentralized exchange because to complete a transaction like buy/sell a third party must be involved, when traders buy and sell they create an order book which is completed buy the traders in the centralized exchange that acts as a third party.

Question 2

Explain in your own words the difference between decentralization and centralization exchanges (answer should related exchanges ,not over all system.. (answer must be written in oun words, copy paste or from other source copy will be not accepted)

Centralized Exchange	Decentralized Exchange
There is always going to be third party to complete transactions	There is no involvement of third party in transaction.
Transaction fee is high in centralize exchange	Decentralize exchange fee exist but are very low compare to centralized
There are Trading options like spot, margin and futures	There are no Trading options like spot, margin and futures
Users must complete kyc in every centralize platform	Users don't have to complete any KYC

Question 3

write about any 2 best centralised exchanges of 2021 . why are they best in front of you? (Show screenshot of your verified profile to make verify that you are really using them, or also share any one trade that you made in last 24 hours

1). Binance is a centralized exchange that came in existence in 2017 and has since been so relevant , the binance exchange operate with the cryptocurrency known as BNB which was also created in 2017 I recently started trading with Binance and i am still trading with it. Binance is known for it's low transaction fee of just 0.1% on all trades and this fee is often paid in the event that you've got it in your wallet with up to 25% decrease of the exchange charge. I extraordinarily select Binance since of its simple interface that encourages viably trading and the low transaction fees.

2). Coinbase is one of the first crypto exchange since the year 2012 and had been powerful up till now, coin base is centralized in nature it has coinbase wallet that is built in decentralization and this allow it's users to operate between two systems and use the best one for any of the chosen transaction at a particular period of time in time. The exchange charges more than binance when it comes to fees, it charges around 0.99 - 2.99 usd depending on the quantity of cryptocurrency transacted it operates in over 40 states in the united state which strengthens coin base presence in the crypto community and that is why i chose coin base.

Question Number 4

Install Metamask, and share step by step screenshot ,(Practicle step by step )

In this tutorial i will be using Uniswap to install meta mask and the steps will be given below.

First Step

• browse https://app.uniswap.org/
• Select Connect wallet option

(connect wallet)

• click install meta mask
  

• Select download now
  

• select install metamask for chrome
  

Second Step

• Click the add metamask button

• Click Add Extension

• Click the fox icon

• Click the create wallet option and agree to terms
  

Third Step

• create a very strong password and Agree to the terms and condition
  

• Backup the backup phase

Forth Step

• The backup space which is 12 in number would appear and it is only you that can gain access to it.
  

• confirm the phrases by inserting them.

Fifth Step

• The wallet has been created
  

• Select start swaping

That is how you install meta mask through uniswap.

Question number 5 :

How to use Uniswap exchange , and Swap/buy or swap/sell any coin (practical step by step )

I will be using Trust wallet (which is a web 3.0 wallet, that is, a wallet that uses web + AI) to connect with the Uniswap In the step by step practical.

• Open Trust Wallet

• Locate Dapp and click uniswap Dapp
  

• Click Connect Wallet
  

• Uniswap will now be connected to Trust wallet

• Select a token you want to swap

• For example i select Eth and 1inch to swap
  

• Input the amount you need

• Select Swap

It would be completed and that is all you need to know

Conclusion
I prefer Decentralize when it comes to fees but i will use centralize because of the security anyway thanks for reading my homework and thanks to professor @yousafharoonkhan for a great lecture